DNV Gets Half of All Middle East Shipbuilding Contracts

Wednesday, March 21, 2007

Risk manager for the oil and gas sector, Det Norske Veritas (DNV), has won more than half of all new shipbuilding contracts for owners in the Middle East and India, according to AB.
The company will undertake 90 new-build projects in total, all of which are scheduled for delivery over the next two years. The orders, which bring DNV's total dead weight tonnage (DWT) on order to over 6.6 million, follow the delivery of 14 vessels in 2006, with a combined DWT of 1.24 million.

DNV is currently working on a number of new-build vessels in the Dubai DryDocks, including two of the biggest drilling rigs in the world and five tankers being converted to floating production, storage and offloading vessels (FPSOs). The company stressed the need for finance to support the offshore industry in the Middle East and called for better management of oil and gas firms.
DNV plans to set up a training academy in India for future employees, as well as for those working for ship owners. Grostad said this was essential, as finding qualified staff for newer industries, such as LNG, has proved difficult.
DNV recorded annual growth figures for 2006 of 13%, with its AED 87 million maritime revenue contributing towards the AED 163 million achieved for all DNV businesses combined. As a result, the company plans to open new offices in Tehran, Oman, Abu Dhabi and Visakhapatnam in India, in addition to recently opened offices in Mumbai, Doha and Fujairah.
Source: AB